Shots:

• HotSpot to receive $40M up front & will be eligible to receive ~$295M in option fees, research, development & commercial milestones along with royalties on global net sales
• AbbVie will be responsible to conduct all future clinical development, manufacturing, and commercialization activities for the IRF5 inhibitor program if AbbVie exercises its option while HotSpot gets a one-time option to share global R&D costs in exchange for higher royalty
• The collaboration focuses to develop the first small molecule IRF5 (interferon regulatory factor 5) inhibitor for autoimmune diseases by using HotSpot's Smart Allostery drug discovery platform

Ref: AbbVie | Image: AbbVie